Amesite Announces Contract Renewal with EWIE Group of Companies
Amesite (NASDAQ: AMST) has renewed its contract with EWIE Group of Companies (EGC) for a third year. EGC, a leader in commodity management and supply chain optimization, has been using Amesite's AI-powered cloud-based learning platform to upskill its global workforce. The partnership has resulted in 189 active courses across 11 countries, yielding an average learner score of 94% against a 70% target. EGC's Quality Assurance Manager, Kasey Braun, commended Amesite’s technology and global support. Amesite's CEO, Dr. Ann Marie Sastry, highlighted the benefits of real-time, on-demand training enabled by AI, which reduces costs and improves performance. The eLearning market is projected to reach $240.9 billion by 2027.
- Contract renewal with EGC for a third year.
- Partnership includes 189 active courses across 11 countries.
- High learner completion rate with an average score of 94% against a 70% target.
- EGC's positive feedback on Amesite’s technology and global support.
- Expansion in a high-growth market projected to reach $240.9 billion by 2027.
- No new financial data provided regarding the terms of the contract renewal.
- Lack of details on revenue growth or profitability from the partnership.
Insights
The renewal of the contract between Amesite and EWIE Group of Companies (EGC) suggests strong customer satisfaction, with EGC extending their partnership for a third consecutive year. This implies that Amesite's products are meeting or exceeding expectations, which is a positive indicator for future revenue stability and growth. Amesite’s AI-driven platform has high completion rates and scores, which can be appealing to other potential clients, enhancing the company's market positioning.
The enterprise eLearning market's growth projection to
However, investors should be cautious of the competition in the AI-driven eLearning space. Continuous innovation and maintaining a competitive edge will be important for Amesite's sustained growth.
Short-term, this news is likely neutral as it doesn't immediately impact financials but reinforces long-term stability and growth potential.
Amesite's continued partnership with EGC underscores the company's ability to deliver high-quality, impactful training programs. The stated average score of 94% against a 70% target suggests that Amesite's platform is highly effective, which can be a strong selling point when marketing to other businesses. This success story serves as a powerful testimonial that could help Amesite secure new clients and expand its market share.
The focus on generative AI and real-time training solutions differentiates Amesite from traditional eLearning providers, offering a clear value proposition. This advanced technology potentially reduces costs and improves workforce performance, which are significant benefits for enterprises looking to optimize their training processes.
Long-term, the ability to continually renew contracts with major clients like EGC will be instrumental in maintaining a steady revenue stream and supporting Amesite's growth trajectory. The expanding market for enterprise eLearning provides ample opportunities and Amesite's proven success can be leveraged to capture new business.
Overall, this strengthens Amesite's position but remains neutral in the short term as market penetration and client acquisition will take time.
EGC Learners Succeeding with Average Score of
DETROIT, June 17, 2024 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a leading artificial intelligence software company offering a cloud-based learning platform for business and education markets, announced today it is extending its partnership with EWIE Group of Companies (EGC), a global leader in commodity management services and supply chain optimization with over 30 years of experience.
This is the third year that Amesite will deliver enterprise upskilling needs for EGC’s global teams on EGC’s proprietary Learning Community Environment®.
“Our training runs smoothly globally with Amesite as our partner,” said Kasey Braun, Quality Assurance and Training Support Manager for EGC. “We leverage their technology and services across the globe, and have seen incredibly high completion rates and scores in every market. We are very pleased with Amesite’s support.”
Dr. Ann Marie Sastry, CEO of Amesite, said, “Generative AI and other AI tools have changed the game in training. Rather than the same train / test cycle we have seen in play for decades, we are pushing out solutions that offer employees real-time training, on-demand. This shortens training cycles, reduces cost and improves performance. We are excited to expand with companies like EGC.”
The enterprise eLearning market is expected to reach
In partnership with Amesite, EGC has 189 active courses in eleven (11) countries, with average scores of
About EWIE Group of Companies
EWIE Group of Companies and its subsidiaries are global leaders in commodity management services spanning cutting tools, abrasives, special tools, industrial supplies and chemical management services with over 40 years of experience. With global presence in twelve (12) countries, our services help customers with green field projects to spend and utilization standardization. For more information, please visit https://www.theegc.com/
About Amesite Inc.
Amesite Inc., an education tech SaaS company, offers its proprietary learning platform and content services to deploy affordable and effective AI for white-labeled online learning programs for colleges and universities. The company's technology platform leverages cutting-edge AI to offer an innovative out-of-the box, AI-powered learning ecosystem, complete with 24/7 learner support, up-to-date content and ready-to-go programs to quickly deploy and generate revenue. With the announcement of NurseMagic™, Amesite has entered the B2C AI app market. Amesite has also announced other apps being developed on its infrastructure, including a Public Safety app that includes training and preparedness for active shooter response. For more information, visit https://amesite.com.
Forward Looking Statements
This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
MJ Clyburn
TraDigital IR
clyburn@tradigitalir.com
Sources
https://online.flippingbook.com/view/533072170/12/
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